Stocks rose as Wall Street looked to rebound from two straight weeks of losses. The Dow, the Nasdaq and the S&P 500 all finished higher on Monday.
Walmart Stores Inc. (WMT) stock was slightly higher even though Goldman Sachs downgraded its rating on the stock to "Neutral" from "Buy." Analyst Matthew Fassler expressed concerns about the retailer's valuation since shares of Walmart have jumped nearly 40% year-to-date. He noted that Walmart's "progress in growing earnings while investing in its business has been recognized by the market." The firm set a $100 price target on the stock.
Shares of Amazon.com Inc. (AMZN) fell despite Nomura increasing its price target to $1,360 from $1,000, while also reiterating its Buy rating. The firm thinks Amazon's shift to higher margin products will drive its business. Nomura estimates Amazon's growing margin can potentially rise to 45%-46% by 2022 from an estimated 35% this year, allowing for up to $160 billion of incremental investment spending.
The commission voted 3-2 in favor of allowing the pipeline's construction to continue but voted against TransCanada's preferred route. The group instead passed the "Alternative Mainline Route," which will affect roughly 40 landowners.
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